Credit Memo Refund in QuickBooks Desktop Enterprise

Here are instructions to create a refund directly from an already-existing but unused credit memo in QuickBooks Desktop Enterprise.

1. Menu: Go to your customer list and select the customer who has the existing credit memo on file.
2. Find the credit memo to be refunded and open it up (double-click on it).
3. Now, select “Use credit to give refund” at the top main menu.
4. There will be a separate pop-up window that opens called “Issue a Refund”.
5. Fill in the appropriate fields such as:
   1. Date of the actual refund.
   2. Issue this refund via….
      1. Be sure to select the appropriate refund method here.
      2. If this customer normally pays by credit card (and you select a credit card refund method) via QuickBooks, then you should also see a field (at the bottom) within this same pop-up window that says “Process credit card refund when saving”. You do NOT have to checkmark this option if you already issued a credit card refund outside of QuickBooks. However, even if you did already process a credit card refund outside of QuickBooks, this refund should net against the overall merchant deposit settlement that is stated on your bank account. So be sure QuickBooks total deposit (payments minus any credit card refunds) for this day also matches this same settled amount on your bank statement.
      3. If paying this refund by check payment, be sure to select the appropriate fields if this check payment will be printed out or if you are just simply going to type in the check number within this screen (“To be printed” would be unchecked here).
   3. Account where the refund will be paid from.
   4. Memo, etc.
6. Click OK
7. Now your Credit Memo should be marked “REFUNDED”.
8. Click Save & Close
9. Now, within the customer transactions list, you will see this refund marked as “Check” or “Credit Card Refund”.

Note: AccuraBooks is a bookkeeping firm only, so please consult with your C.P.A. for verification and clarification about the contents of this article.